Greaves Cotton corrects sales to profit


Greaves Cotton fell 6.14% to Rs 223.05 after a recent steep rally.

Greaves Cotton shares have jumped 53.82% in the past five sessions.

Over the past year, the stock has jumped 129.43% while the benchmark Sensex has risen 23.44% over the same period.

Technically, the stock’s RSI (Relative Strength Index) stood at 61.31. The RSI fluctuates between zero and 100. Traditionally, the RSI is considered overbought when it is above 70 and oversold when it is below 30.

The stock was trading above its 50-day, 100-day, and 200-day Simple Moving Average (SMA) placed at 183.65, 162.05 and 152.86, respectively.

On a consolidated basis, Greaves Cotton reported a net loss of Rs 23.29 crore in the second quarter of September 2021, higher than the net loss of Rs 22.49 crore in the second quarter of September 2020. Net sales increased by 13 , 40% to reach Rs 373.51 crore in the second quarter of September 2021 compared to the second quarter of September 2020.

Greaves Cotton is a diversified engineering company and a leading manufacturer of clean technology powertrain solutions (CNG, gasoline and diesel engines), generator sets, agricultural equipment, electric mobility, aftermarket and services.

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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